Illuminating as always. So far I have managed to see more and more stuff in the hourly. I am trying to focus on the nearest and most important levels. As G pointed out yesterday they serve a great purpose once one is defining if a trade has to be closed or not. I have to keep an eye on that. Regarding your view of the market my reading was that we were forming a new triangle with an apex around 30 with 35 and 26 as my first levels to be aware of after the open.
9:23 Congestion between 29 and 33 in the 1 min. :29 Bo waiting for RET :30 Short invalidated :34 Chop. How fun. :36 Upside BO. :40 REt expectations melting. :42 Avoided the long at 33.25 :45 Somehow I am thinking avoiding the short at 31.25 was not the smartest Idea . . But rules are rules I saw chop and I better wait for 28 to be taken out. :50 Buyers showing up at 26 where they were expected. In retrospect, I think the fact that we were testing 35 gave the short more weight. Any opinion here?
:53 Short at 26,50 :55 Not looking good, SL break and DB, if this goes up then SAR will be the way to go. :57 SL fanned
What's the bigger picture? Price is having trouble going up. Where's the LOLR? Your entry is a bit problematic hence making it hard to sit tight. Demand trying something here. Gringo
We are at the bottom of the TR, and sellers are also having trouble getting lower. SL still holding so, short still works. But not sure for how long. 10:00 SL Broken :03 SL fanned
These kinds of wild swings represent indecision, I think. It's not clear to me anymore what's happening. BO and Ret here or chop?